Rochester,NY 8/20/2009 1:18:26 AM
Wells Fargo & Company, WFC - In Okun fraud case Wells Fargo to pay $45 million
Wells Fargo & Company
Wells Fargo & Co agreed to settle lawsuits related to work performed for a tax deferral firm by paying $45 million whose clients were swindled out of $126 million by now-imprisoned Edward Okun.
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The settlement announced in court papers filed by the trustee liquidating Okun's firm, 1031 Tax Group LLC. It relates to work performed by Wachovia Corp, which Wells Fargo acquired at the end of 2008.
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